congressmembers stop sec inquiry into ftx

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Does Congress need to pass legislation after FTX collapse?

Tom Williams/Pool via REUTERS/File Photo WASHINGTON, Nov 10 (Reuters) - U.S. Senate Agriculture Committee chair Debbie Stabenow said on Thursday the U.S. Congress needs to pass legislation in the wake of the collapse of cryptocurrency exchange FTX. "It is time for Congress to act.

Did the SEC investigate FTX?

Given that FTX was under investigation by the SEC in March, when Davidson and Emmer actively worked in public to shut that investigation down, claiming that it was illegal for the SEC to investigate crypto firms in that manner, their subsequent claims that the SEC wasn’t doing its job are certainly interesting.

Did FTX collapse?

The Securities and Exchange Commission was seeking information from collapsed cryptocurrency exchange FTX earlier this year, the Prospect has confirmed, bringing a new perspective to an effort by a bipartisan group of congressmembers to slow down that investigation.

Did FTX and Coinbase receive SEC inquiries?

A source with knowledge of the situation confirmed to the Prospect that FTX and Coinbase, a U.S.-based crypto exchange, were two of the firms receiving inquiries from the SEC. Emmer and his colleagues questioned the SEC’s inquiries in March.